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FOX News
Oct 1, 2012 10:00am PDT
. early last year mr. quinn floated the idea that the federal government could bail out, that is the federal government, you, could bail out his state's pension program if illinois' finances took a turn for the worse. critics are pouncing saying states cannot give away big benefit packages and then expect the federal taxpayer to come to the rescue. "the chicago tribune" says the stampede of other states with pension red ink could lead to a federal taxpayer bill of over $2 trillion. that's with a t, and let me tell you, folks, that's just one estimate. others put it between 1 trillion and 25 trillion that we could potentially get to. lou dobbs is host of "lou dobbs tonight" on the fox business network, he's also a syndicated radio host. so governor quinn in illinois can't figure out how to get himself out of these pensions that they've overpromised and feel like they're going to have to underdeliver on, and he's considering making the rest of us pay for them? [laughter] >> he's considering, he's hoping, he's begging, he's wishing. the fact of the matter is governor quinn
FOX News
Oct 2, 2012 10:00am PDT
as compared to romney's own perscriptions that call for smaller less expensive government. for the president what he's going to try to do is say look, maybe things aren't so great but it is partly the fault of george w. bush and the republicans who were in office prior to the democrats taking control in 2009, so we need time to fix it, and by the way, the president will also say that he wants to increase taxes on people like mitt romney to help pay down some of that debt. >> reporter: we just put of that graphic there showing the $16 trillion of debt and there are so many digits it almost doesn't fit on the tv screen across the screen there, as you can see. but haven't americans in some way become number to astronomical numbers? how serious is this in. >> they have become number. is it the new normal this massive spilling of red ink but it raises three problems which i don't think the nation has got even to grips with yet. number one our economy is smaller than our debt. we look like europe, we know what happened there. number two we are spending $9 billion every week just paying interest on
Search Results 0 to 1 of about 2